Company Registration No. 11054210 (England and Wales)
M CAPITAL INVESTMENT PARTNERS (HOLDINGS) LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2020
PAGES FOR FILING WITH REGISTRAR
M CAPITAL INVESTMENT PARTNERS (HOLDINGS) LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
M CAPITAL INVESTMENT PARTNERS (HOLDINGS) LIMITED
BALANCE SHEET
AS AT
30 NOVEMBER 2020
30 November 2020
- 1 -
2020
2019
Notes
£
£
£
£
Fixed assets
Investments
2
1,000,001
1,375,001
Current assets
Debtors
3
375,000
Creditors: amounts falling due within one year
4
(375,001)
(375,001)
Net current liabilities
(1)
(375,001)
Total assets less current liabilities
1,000,000
1,000,000
Capital and reserves
Called up share capital
5
15,319
15,319
Share premium account
984,681
984,681
Total equity
1,000,000
1,000,000
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial year ended 30 November 2020 the company was entitled to exemption from audit under section 480 of the Companies Act 2006 relating to dormant companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
T
he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved and signed by the director and authorised for issue on 23 August 2021
Mr M J Higginson
Director
Company Registration No. 11054210
M CAPITAL INVESTMENT PARTNERS (HOLDINGS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2020
- 2 -
1
Accounting policies
Company information
M Capital Investment Partners (Holdings) Limited is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
76 Church Street, Lancaster, LA1 1ET.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in
sterling
, which is the functional currency of the company.
Monetary a
mounts
in these financial statements are
rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Going concern
A
true
t the time of approving the financial statements
,
t
he director has a reasonable expectation that the
company
has adequate resources to continue in operational existence for the foreseeable future. Thus
t
he director continues to adopt the going concern basis of accounting in preparing the financial statements.
1.3
Profit and loss account
The company has not traded during the year. During
this time
the company received no income and incurred no expenditure and therefore no Profit and loss account is presented
in these financial statements.
1.4
Fixed asset investments
Interests in subsidiaries
and
associates are initially measured at cost and subsequently measured at cost less any accumulated impairment losses.
The investments are assessed for impairment at each reporting date
and
any
impairment
losses or reversals of impairment losses are recognised immediately in profit or loss.
A subsidiary is an entity controlled by the company
. Control is
the power to govern the financial and operating policies of
the
entity so as to obtain benefits from its activities.
An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.
1.5
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset
, with
the net amounts presented in the financial statements
,
when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
M CAPITAL INVESTMENT PARTNERS (HOLDINGS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2020
1
Accounting policies
(Continued)
- 3 -
Basic financial assets
The company has no assets that are classified as basic financial assets.
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Basic financial liabilities
Basic financial liabilities, including loans from
fellow group companies, are
initially recognised at transaction price unless the arrangement constitutes a
financing transaction, where the debt instrument is measured at the present value of
the future
paymen
ts discounted at a market rate of interest.
Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective
interest rate method.
1.6
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
2
Fixed asset investments
2020
2019
£
£
Shares in group undertakings and participating interests
1,000,001
1,375,001
Movements in fixed asset investments
Shares in group undertakings
£
Cost or valuation
At 1 December 2019
1,375,001
Disposals
(375,000)
At 30 November 2020
1,000,001
Carrying amount
At 30 November 2020
1,000,001
At 30 November 2019
1,375,001
M CAPITAL INVESTMENT PARTNERS (HOLDINGS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2020
- 4 -
3
Debtors
2020
2019
Amounts falling due within one year:
£
£
Other debtors
375,000
4
Creditors: amounts falling due within one year
2020
2019
£
£
Other creditors
375,001
375,001
5
Called up share capital
2020
2019
2020
2019
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of 10p each
153,188
153,188
15,319
15,319
6
Related party transactions
2020
2019
Amounts due to related parties
£
£
Other related parties
375,001
375,001
The following amounts were outstanding at the reporting end date:
2020
2019
Amounts due from related parties
£
£
Entities in which the company has a participating interest
375,000
-